ICON ICX

Icon is a decentralized platform and decentralized exchange that is creating an ecosystem composed of financial institutions, insurance companies, hospitals, universities and many other sections. In my opinion, ICX will be a big ecosystem one day due to its ability to connect everything together in its ecosystem using Communities. Read and comment below if you agree or disagree with my opinions of ICX.

Background

Icon is a decentralized platform and decentralized exchange that is creating an ecosystem composed of financial institutions, insurance companies, hospitals, universities and many other sections. DAPPS (Decentralized Applications), ICOs, and Smart Contracts can be built on this platform.The ICO started in October 2017 and ICX hit the market on December 25th selling for about $6.50 per ICX. ICX aims to create a community of multiple sectors with independent blockchains and governances to transact with one another without intermediaries.

Summary

ICX has many features as to why I think it will succeed:

1. Communities- By verifying all transactions in networks and not including third parties, it lowers fees and ensures the community is independent. Each community autonomously determines their systems and policies while keeping the ability to connect to other communities as needed.
2. Connections- ICX allows connections between nodes within communities, nodes within ICON Republic, Communities and ICON Republic, and multiple Communities.
   ICON Republic- the connector of different Communities and functions as a communication channel between Communities
   Node- the building block of the Communities, it affects the decision making process of Community governance. Node policies are determined by members in the Community
3. Loopchain- Loopchain technology allows information to be shared throughout the entire ecosystem even though the information is only on a single Community. This is done through the use of Nexus and Portals.
   Nexus is a multi-channel blockchain connected to each other via Portals.
   Portals are the independent connections to Nexus and act like an analog would in the International Banking system (SWIFT), which facilitates communications between banks with different currencies.
4. Decentralized Exchange- ICX enables trading of many other cryptocurrencies using Reserve rates based on the Bancor Protocol.

Visit https://www.icon.foundation/resources/whitepaper/ICON-Whitepaper-EN-Draft.pdf to view their Whitepaper for further details.

Team

ICX has a large team and advisory board with diverse backgrounds.

Visit https://www.icon.foundation/contents/team/members?lang=en to see their team.

Road Map

I did not find a roadmap on their website but they might update their website to include that in the future.

Social Media

As of right now, they have about 77,000 followers, on Twitter, with about 250 tweets and aren’t as active as I would like them to be but isn’t bad. Follow @helloiconworld on Twitter for updates on ICX news and upcoming events.

Conclusion

During this recent pull back, ICX is a project that really jumped onto my radar since it was trading above $12 before the correction. I think there is a great community behind ICX and a great product that has real world use case. I like the idea of ICX’s ecosystems and their ability to connect many different types of businesses all in their ecosystem. I expect ICX to have a very bright future and hope this correction lasts long enough for me to buy as much ICX as I can.

I am not a financial advisor and I can only speak for myself and my opinions.
All factual information above was obtained from ICON’’s website: https://www.icon.foundation/?lang=en